Mobile game publisher Jam City raises $350M and buys Ludia for $165M

Jam City has raised $350 million in funding and has closed its purchase of mobile game publisher Ludia for $165 million.

The deal comes after Jam City scuttled its $1.2 billion plan to go public via a special purpose acquisition company (SPAC) because of changing conditions in the stock market. The $350 million consists of a combination of equity and debt financing.